EVERETT—The Boeing Company announced on Monday, December 8, it had completed its $4.7 billion reacquisition of Spirit AeroSystems after selling it off in 2005 to investment firm Onex for $900 million in cash plus the assumption of $300 million in debt.
“This is a pivotal moment in Boeing’s history and future success as we begin to integrate Spirit AeroSystems’ commercial and aftermarket operations and establish Spirit Defense,” said Kelly Ortberg, president and chief executive officer of The Boeing Company. “As we welcome our new teammates and bring our two companies together, our focus is on maintaining stability so we can continue delivering high quality airplanes, differentiated services, and advanced defense capabilities for our customers and the industry.”
Boeing’s acquisition includes all of Spirit’s Boeing-related commercial operations, including fuselages for the 737 program and major structures for the 767, 777 and 787 Dreamliner. It also includes commercially procured fuselages for the P-8 and KC-46.
The transaction also brings Boeing’s largest supplier of spare parts in house, expands Boeing’s global maintenance, repair and overhaul services footprint and adds to Boeing’s rotable, lease, and exchange portfolio with Spirit’s aftermarket businesses.
Spirit Defense will continue to support its customers as an independent supplier to the defense industry to ensure uninterrupted support for its customers. It will act as a non-integrated subsidiary of Boeing Defense, Space & Security, aligning for financial reporting and select enterprise functional and site support, but maintaining independent governance and operations.
In addition, portions of Spirit AeroSystems’ operations in Belfast, Northern Ireland, have been acquired by Boeing, and the Belfast site will operate as an independent subsidiary branded as Short Brothers, a Boeing Company.
Spirit AeroSystems’ commercial and aftermarket operations in Wichita, Kansas; Dallas, Texas; and Tulsa, Oklahoma, as well as Spirit’s Aerospace Innovation Center in Prestwick, Scotland, will begin to integrate into Boeing. Approximately 15,000 teammates across the five sites are becoming a part of Boeing.
“Kansas’ aviation expertise reaches far beyond our borders,” said Kansas Governor Laura Kelly. “We help manufacture the aircraft the world relies on. Boeing’s acquisition of Spirit AeroSystems underscores the global significance of the work happening in our state and positions Kansas to continue shaping the future of aerospace innovation for decades to come.”
“Wichita would not be the Air Capital of the World without the extraordinary engineers, designers and manufacturers who have invested in our aerospace industry and made Kansas their home,” said U.S. Senator Jerry Moran. “Boeing’s acquisition of Spirit AeroSystems will help build bridges between Seattle and Wichita and bring new opportunities to the Air Capital of the World. I welcome Boeing back to Wichita and look forward to working with them to build a lasting relationship with the community and its workforce, as well as current and future suppliers, to continue building on the growth we have seen in recent years.”
“Today’s announcement is a great recognition of the world-class talent we have in Wichita,” said U.S. Senator Roger Marshall. “Our workers and the unions that represent them have kept America as the gold standard in aerospace, and they deserve to be at the center of any future investment. I’m grateful that this agreement further solidifies Wichita’s prestige in the industry.”
“Kansas has a rich aviation history, and our region continues to lead the way in designing, developing and manufacturing world-class aircraft that serve the world,” said U.S. Congressman Ron Estes. “Boeing’s acquisition of Spirit AeroSystems continues to build on the successes of a century of U.S. flight. As the flags change at the manufacturing facility in southeast Wichita, I will remain a steadfast advocate for the skilled workforce and communities that make up the Air Capital of the World.”
Author: Lynnwood Times Staff
